J. C. Penney Company, Inc.JCP , similar to other retailers, is gearing up for the back-to-school season, which is regarded as one of the important sales seasons, next only to the Christmas holidays. Per sources, this time too, the company has come up with exciting offers on school uniforms, jeans, apparels, shoes, backpacks, tech accessories, furniture, college & dorm bedding, and others.
Last year, this department store retailer, which carries a Zacks Rank #2 (Buy), witnessed a sturdy start to the back-to-school shopping season, with August emerging as the strongest. We believe that the company will make the most out of the season this time as well. The brands shoppers are likely to come across are Nike NKE , Arizona, Levi's and Izod.
The back-to-school season is the best time for students to replenish their wardrobes. We believe retailers will leave no stone unturned to exploit this season. Armed with several strategies, including early-hour store openings, promotional events, free shipping on online purchases and heavy discounts, retailers will make every effort to boost sales.
Macy's, Inc. M too is all set to tap the back-to-school season by offering top designers and brands at reasonable prices at its stores. The company is offering a variety of accessories and outfits including bohemian style clothing, latest denim garments, printed leggings and statement tees. The top brands to be featured include Celebrity Pink, Epic Threads, Jessica Simpson, Levi's, Material Girl and XOXO.
Another retailer, Target Corp. TGT , has unveiled its back-to-school sales strategies. Apart from introducing several big discount schemes, the company has plans to make back-to-school shopping more convenient this season with its simple online promotions. The company has developed an online portal named "School List Assist" to make the school supplies selection process effortless.
Retailers are betting hard on the season. Hence, a recent back-to-school season sales forecast may sound alarming to them. According to the National Retail Federation, total spending in the back-to-school and back-to-college season is estimated to touch $68 billion, down approximately 9% from $74.9 billion anticipated last year. Industry experts believe that since the country's economy is still in a recovery mode, consumers will obviously be extra careful with their purchases.